IMF mission forecasts fall in real estate prices in Azerbaijan

Mission of the International Monetary Fund (IMF) says certain problems related to mortgage security may emerge in Azerbaijan taking into account expected decline in real estate prices.

Head of the Mission Nienke Oomes said that risks can emerge in Azerbaijani banking system in connection with drop in prices for real estate by 2011.

“Fall in prices can result in fall in value of mortgage security  for loans. It, in turn, can cause quality degradation in banks’ assets,” Oomes added.


/Abc.az/